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WEDNESDAY, JULY 6, 1988
1987-88 SURPLUS PUT AT $11.6 BILLION
* * * **
IS $11.6 THE FINALISED SURPLUS FOR THE FINANCIAL YEAR 1987-88
THE HON PIERS BILLION, THE FINANCIAL SECRETARY,
JACOBS, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
BEING FINALISED BY THE DIRECTOR OF TOTAL EXPENDITURE READING OF THE
AFTER ACTUAL REVENUE, ACCOUNTING SERVICES, AMOUNTED TO $55.6 BILLION AND $44 BILLION, MR JACOBS SAID, WHEN MOVING THE SUPPLEMENTARY APPROPRIATION (1987-88) BILL 1988.
AN ESTIMATED SURPLUS OF $10.5 BUDGET SPEECH IN MAY, HE ADDED.
SECOND
BILLION WAS
MENTIONED IN HIS
*OF THE SUM "THE EXPENDITURE CHARGED TO 52 HEADS IS IN EXCESS APPROPRIATED FOR THOSE HEADS BY THE APPROPRIATION ORDINANCE 1987,' JACOBS NOTED.
"THIS IS BECAUSE SUFFICIENT OFFSETTING FOUND WITHIN THE HEADS CONCERNED.'
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MR
SAVINGS COULD NOT
BE
BEEN
IN
MR JACOBS SAID THE EXCESS HAD
THE INCLUDED
GIVE SUPPLEMENTARY APPROPRIATION (1987-88) BILL 1988, WHICH SOUGHT TO
PROVISION FINAL LEGISLATIVE AUTHORITY FOR THE AMOUNT OF SUPPLEMENTARY
FINANCE APPROVED IN RESPECT OF PARTICULAR HEADS OF EXPENDITURE BY THE COMMITTEE OR UNDER POWERS DELEGATED BY IT.
IN RESPECT
THE TOTAL NET SUPPLEMENTARY APPROPRIATION REQUIRED OF THE 52 HEADS OF EXPENDITURE WAS $1,526.3 MILLION, HE SAID.
THE
EXCESS WAS
LARGELY ACCOUNTED FOR
THE BY
1987 PAY SCALE 1 STAFF FOR ADJUSTMENT AND PAY IMPROVEMENT PACKAGE FOR MODEL THE CIVIL SERVICE ($808.2 MILLION) AND GOVERNMENT ORGANISATIONS ($388.4 MILLION).
EARLY
SUBVENTED
REPAYMENT
LOANS ($318.2
OTHER MAJOR CONTRIBUTING FACTORS INCLUDED THE IN FULL OF THE FOUR OUTSTANDING ASIAN DEVELOPMENT BANK MILLION) AND THE PURCHASE OF WATER FROM CHINA ($132 MILLION).
"I
ARE DUE ΤΟ CONTINUED TIGHT THE THANKING JACOBS SAID,
"SAVINGS MADE IN OTHER SUBHEADS CONTROL OVER PUBLIC EXPENDITURE, MR CONTROLLING OFFICERS AND OTHERS WHO HAD CONTRIBUTED TO RESTRAINT.
DEBATE ON THE BILL WAS ADJOURNED.
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